XRP Price Analysis – December 15
XRP/USD pair has continued the downward move after buyers fail to hold above $0.50. There are indications of a further downward move as the price approaches the dotted line or the previous support at $0.45. The XRP/BTC, on the other hand, is in a downward move. A further downward move will arise if the price breaks below Ƀ0.000023000.
XRP/USD Market
Key Levels:
Resistance Levels: $0.24, $0.26, $0.28
Support Levels: $0.22, $0.20, $0.18
Ripple price is making a series of lower highs and lower lows. The downtrend has continued as price reaches the low of $0.49. The bottom line is that the downward move may end as price finds support above the dotted line. However, if the price breaks below the dotted line, the downward move will continue. On the other hand, if the coin finds support above the dotted line, the market will resume an upward move. Meanwhile, XRP is at level 45 of the Relative Strength Index period 14. It indicates that the coin is in the downtrend and below the centerline 50.
Ripple (XRP) Indicator Analysis
The fallen price is approaching the dotted lines and the 50-day SMA. A break below the dotted lines and the 50-day SMAs will mean that Ripple will continue to fall. The coin will be in the bearish trend line. The selling pressure may persist if it falls in the bearish trend zone. Another point worth mentioning is that Ripple will rise if the downtrend line is broken. That is when the price breaks and closes above the downtrend line.
In the case of XRP/BTC, the crypto is also falling and approaching the critical support level. The crypto will find support above level Ƀ0.000023000. The downtrend will persist if critical support is breached. Then it will fall to level Ƀ0.000017000. Meanwhile, according to the dally stochastic, XRP/BTC has fallen to the oversold region of the market. Buyers may likely emerge to pushed prices upward.
Remember, all trading carries risk. Past performance is no guarantee of future results.
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